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PA$2-2($Algo$)$ Recording Transactions $($in a Journal and T$-$Accounts$)$; Preparing a Trial Balance; Preparing and Interpreting the Balance Sheet $[$LO $2-1,$ LO $2-2,$ LO $2-3,$ LO $2-4,$ LO $2-5]$

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$[$The following information applies to the questions displayed below.$]$

Deliberate Speed Corporation $($DSC$)$ was incorporated as a private company. The company$$s accounts included the following at June $30$:

Accounts Payable $ $21,400$

Buildings $183,000$

Cash $42,750$

Common Stock $185,000$

Equipment $126,500$

Land $278,000$

Notes Payable $($long$-$term$)3,750$

Retained Earnings $436,500$

Supplies $16,400$

During the month of July, the company had the following activities:

Issued $4,300$ shares of common stock for $$430,000$ cash.

Borrowed $$143,000$ cash from a local bank, payable in two years.

Bought a building for $$223,500$; paid $$102,500$ in cash and signed a three$-$year note for the balance.

Paid cash for equipment that cost $$227,000.$

Purchased supplies for $$50,750$ on account.

PA$2-2($Algo$)$ Part $4$

Prepare a trial balance at July $31$d$.$ Paid cash for equipment that cost $$227,000.$

e$.$ Purchased supplies for $$50,750$ on account.

PA$2-2($Algo$)$ Part $4$

points

Prepare a trial balance at July $31.$